• 7 Financial Planning

What is Private Medical Insurance?

Private Medical Insurance is a type of health insurance that covers the cost of private healthcare.

It is not a substitute for the NHS or travel insurance, and it’s certainly not a stand-in for life assurance or income protection.

The main benefit of Private Medical Insurance (PMI) is that it allows you to use any UK registered doctor or hospital that accepts your chosen plan, with no referral needed from your GP. You can also receive treatment in Europe if you have an EHIC card (European Health Insurance Card).

Why get private medical insurance?

With NHS waiting times longer than ever, PMI may be perfect for you.


Some of the benefits include:

  • Getting quicker treatment

  • In a hospital chosen by you

  • From a surgeon or consultant of your choice

  • Get you elected medical tests

  • Access to the best care

PMI covers acute medical conditions, otherwise known as issues that can be treated and something which is not chronic. You can take out Comprehensive cover, providing the highest type of cover from diagnosis to treatment - this also includes cancer cover.

The other type of cover is Treatment and Care cover which is where you are diagnosed from the NHS and then wish to take private treatment for this diagnosis.

To get the most out of your policy you should choose one with good levels of coverage and make sure it meets all your requirements in terms of extras and limits on overseas travel.

Who should get private medical insurance?

Here are some examples of when you may need private medical insurance:

  • If you want to see a specialist.

  • If you want to be treated in a private hospital (for example, if your local NHS hospital doesn't have the expertise or facilities for a particular procedure).

  • If you don’t want to wait for long NHS waiting times .

  • If you want to get treatment in another country (for example, if it's quicker than waiting for an appointment on the NHS).

  • To see a dentist or optician when the NHS offers limited coverage for these services.

  • You want peace of mind that you and your family will get the very best medical attention.


Cover details

The cover levels and costs of a policy are determined by your age, the level of cover you choose, and any additions to your basic policy.


For example, if you're under the age of 65 but choose a comprehensive plan, it may not increase in cost as much as one that only covers emergency care.

The best way to ensure that you get the right cover is to speak to an adviser before buying a policy. This can help you:


  • Choose the right level of cover

  • Decide whether you want private medical insurance, or another type of health insurance

  • Understand how your provider will reimburse costs incurred by following treatment plans recommended by your doctor or specialist


At 7FP, we can help you work out the right insurance policy to fit your personal circumstances. To find out more about your options, get in touch with us today on 0191 380 4106 or email us at enquiries@7fp.co.uk.

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